The ABC’s of politics, property and performance!

The ABC’s of politics, property and performance!

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In real estate we speak about position, position and position. Sometimes when politicians appear on television, their position can be an embarrassment because, although they can talk the talk, they can’t walk the walk! The Emperor (Kevin Rudd) found himself in that exact position when he appeared on Q&A – Monday night on that ABC at Old Parliament House, Canberra. Journalists had an absolute field day (as did viewers) “At the end of the day, the kids caned Kevin on Q&A” by David Penberthy in The Punch (another great daily online read). I well remember noticing this point. “One of the funniest things about the show was how so many of the young people in the crowd smirked in amusement at Rudd’s Ruddisms – “there’s no magic wand”, “but you know something”, and the ever – present “at the end of the day”, and his use of hand gestures and the sweeping arm to explain the scary arrival of the GFC.” He was trying to gild his lily which wilted after approximately five minutes of prudent interrogation by our country’s future leaders!

They say “nothing makes it harder to remember campaign promises than getting elected” and The Emperor would have observed that his Fort Fumble is now under greater scrutiny and attack from all sides. The Daily Telegraph ran the following stories “Kevin Rudd’s 795 days of empty promises” and “Kevin Rudd’s report card: could do better”. A tough week for The Emperor or is it just that politicians make headlines running for something or running from something?

No doubt he will be very fit by the time he takes us to the polls this year given so many empty promises have glaringly emerged with our “economic conservative” Prime Minister. Joe Hockey fared much better as “Giant Tinkerbell” tutu, magic wand and crown.

Manly

Surfs Up! As too are wobbegong attacks although I did chuckle when a witness described the shark as a Great White – although these surfers look unperturbed whilst catching waves at Manly Beach

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Tim Mooney Photography

So from politics, let’s move to property and performance where we mark the report card for Cremorne house results from 2007 to 2009 (next week we examine Neutral Bay houses).

CREMORNE PROPERTIES SOLD REPORT – (House and Semi only)

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1 JANUARY 2009 to 31 DECEMBER 2009

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  • Total number offered – 91 (Mosman 334)
  • Total number of sales recorded – 87 (Mosman 303)
  • Total value sold – $157,197,000 (Mosman $668,966,377)
  • Public Auction – 25 properties to a total value of $38,727,500
  • Private Treaty – 62 properties to a total value of $118,469,500
  • Median Price – $1,450,000 (Mosman $2,000,000)
  • Average Price – $1,871,392 (Mosman $2,397,728)
  • Highest Sale – $13,500,000 (RWM)

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CREMORNE PROPERTIES SOLD REPORT – (House and Semi only)

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1 JANUARY 2008 to 31 DECEMBER 2008

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  • Total number offered – 96 (Mosman 360)
  • Total number of sales recorded – 80 (Mosman 287)
  • Total value sold – $164,864,550 (Mosman $774,865,612)
  • Public Auction – 24 properties to a total value of $48,531,000
  • Private Treaty – 56 properties to a total value of $116,333,550
  • Median Price – $1,650,000 (Mosman $2,000,000)
  • Average Price – $2,113,648 (Mosman $2,738,041)
  • Highest Sale – $8,280,000 (RWM)

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CREMORNE PROPERTIES SOLD REPORT – (House and Semi only)

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1 JANUARY 2007 to 31 DECEMBER 2007

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  • Total number offered – 100 (Mosman 456)
  • Total number of sales recorded – 96 (Mosman 412)
  • Total value sold – $223,006,433 (Mosman $1,182,372,720)
  • Public Auction – 28 properties to a value of $52,452,600
  • Private Treaty – 68 properties to a value of $174,861,433
  • Median Price – $1,700,000 (Mosman $2,300,000)
  • Average Price – $ 2,347,436 (Mosman $2,869,836)
  • Highest Sale – $15,000,000 (new Cremorne record)
Source: Australian Property Monitors

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SUMMARY CREMORNE HOUSE PRICES FROM 2007 TO 2009

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Note that for Mosman and Cremorne in 2008 and 2009, the years of the Global Financial Crisis (GFC), Richardson & Wrench Mosman & Neutral Bay (RWM) posted the highest recorded sales for each year. During the GFC, Cremorne traded as usual 2009 – 87 sales, 2008 produced 80 sales and 2007 recorded 96 sales. Mosman bunkered down 2009 – 303 sales, 2008 – 287 sales and 2007 – 412. It should also be noted that Cremorne posted the highest sale in 2009 at $13,500,000 over Mosman $13,200,000 (both vendors are Virtual Realty News subscribers).

So Mosman property and performance was back in the spotlight this week when it made the front page of The Sydney Morning Herald . “No more withdrawal symptoms as bankers again splash the cash” and “A bonus is a must, says the real estate crowd” . I would add that our 2010 market is too early to call – a key clue for subscribers to our daily email alerts will be our under offer and sold alerts – our website is now the Mosman sales barometer.

Peter Martin from The Sydney Morning Herald sent another warning to The Emperor when he wrote “Interest rate rises in Labor hands” – “The head of the Reserve Bank has held out the prospect of continuing low interest rates, as long as Labor sticks to its pledge to restrain spending.” Which is highly unlikely in an election year although I did chuckle when I read, “Joyce link between rates, ‘gross over-simplification’, says Henry”.

Somewhat ironic, with the Reserve Bank of Australia (RBA) saying that Labor again accumulated debt and the Howard regime paid it off in seventeen years of unprecedented economic growth. This again points me to the Henry Tax Report which is as mysterious as a government grant from The Emperor in a Liberal seat – it never happens. Makes one wonder just why this report (six weeks since its release) remains highly confidential.

What is not confidential is that RWM no longer offer properties for rent. Our total focus now is on sales and Agentpoint has delivered what I consider the smartest homepage in the real estate industry.

We are proud to further develop our online business – as our business is your business.

Cheers ^__^

For this week’s recorded Balmoral real estate, Mosman real estate, Cremorne real estate, Cremorne Point real estate, Neutral Bay real estate and Cammeray real estate sales www.rwm.com.au/news/

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